Boeing, PIA Finalize Order for Five 777-300ERs

Boeing [NYSE: BA] and Pakistan International Airlines today announced a firm order for five 777-300ER (extended range) airplanes. Valued at nearly $1.5 billion at list prices, the order also includes purchase rights to Pakistan International Airlines for five additional 777-300ERs.

Based in Karachi, Pakistan International Airlines has been renewing its long-haul fleet to accommodate increased demand for air travel as well as to introduce new routes.

"With passenger traffic in our region accelerating, the new 777-300ER airplanes will continue to deliver the highest standards of technology and passenger comfort to our customers," said Capt. Nadeem Yousufzai, Managing Director of Pakistan International Airlines. "The spacious 777-300ER has been an integral part of our long-range fleet renewal program and its excellent operating economics, long range capability and reliability will allow us to expand into new long-haul markets."

In 2002, Pakistan's flag carrier became the world's first airline to purchase all three passenger models of the 777 Family and in that year was also the launch customer for the 777-200LR (longer range) airplane.

"We are proud that Pakistan International Airlines is a special Boeing customer that continues to invest and trust in the industry-leading capabilities of the 777 family of airplanes," said Marty Bentrott, vice president of Sales for the Middle East, Russia and Central Asia, Boeing Commercial Airplanes. "Boeing values the excellent partnership that was established over 10 years ago and one which we hope to continue well into the future as the airline progresses with its expansion plans."

2011 was the best-selling year for the 777 program with a net order book of 200 surpassing the previous record of 154 orders set in 2005. The 777-300ER brings new twin-engine efficiency to the airline's long-haul fleet. The airplane is powered by General Electric GE90-115BLs, the world's largest and most powerful commercial jet engines. The airplane also features the Boeing Signature Interior that offers wider seats, wider aisles, more headroom and more seating flexibility.